UPDATE 1-Centerview's Stephen Crawford to become Capital One's CFO

Fri Feb 1, 2013 9:46am EST

* Crawford to take over on May 24

* Crawford to replace Gary Perlin, who is retiring

* Perlin to stay on as senior adviser to CEO through next year

Feb 1 (Reuters) - Credit card company Capital One Financial Corp said Chief Financial Officer Gary Perlin would retire in May and be replaced by Stephen Crawford, co-founder of financial advisory and private equity boutique Centerview.

Crawford will join Capital One on Feb. 4 and take over as CFO on May 24.

Perlin will remain with Capital One as a senior advisor to the CEO through Feb. 1, 2014, the lender said.

Before he launched Centerview, Crawford spent nearly 20 years in various positions at Morgan Stanley, including as chief financial officer.

Centerview Partners advised Residential Capital LLC, the mortgage lending unit of Ally Financial Inc, on its bankruptcy, and Capital One on its $9 billion acquisition of U.S. online bank ING Direct.

"Steve brings great experience and skills. He has worked with Capital One as an advisor over the last several years and knows our company, the industry and our management team well," Capital One CEO Richard Fairbank said in a statement.

Last month, Capital One reported a weak fourth-quarter profit and a disappointing full-year revenue outlook, signaling it would not benefit as much as was hoped from its recent big-ticket acquisitions.

Last year, the company acquired ING Direct and HSBC's $30 billion U.S. credit card portfolio.

Shares of the McLean, Virginia-based company rose 1 percent to $57.02 in early trade on the New York Stock Exchange.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article